Price prediction solutions strike a chord with many cryptocurrency enthusiasts. It can be fun to guess how crypto prices will evolve.
Adding a wager-esque element to it through a “pool” tied to these price predictions will enhance the overall appeal, and CryptoPool checks the right boxes.
The Appeal of Crypto-Price Predictions
There are many different ways to gain exposure to cryptocurrency prices these days. Some people prefer to buy the assets outright, whereas others may seek more intermediary vehicles, such as futures, derivatives, and ETF-like offerings. Overall demand for exposure to crypto prices is rising, although there is always room for other vehicles and solutions.
As these assets are volatile by default, predicting crypto prices can become challenging. For users who prefer to make some money by guessing the future price of Bitcoin or other assets, engaging in prediction markets may be an option. More specifically, prediction markets tied to crypto prices have been around for a while now, although the concept has not gained strong traction yet.
The differentiator is how most current crypto-price prediction markets suffer from a few issues. Gaining access to these markets is not always user-friendly, may have low liquidity, and the revenue distribution model may not be optimal. Those factors make these solutions appealing to crypto users but do nothing to attract retail users.
Empowering The Users With CryptoPool
To enhance the appeal of crypto-price prediction markets, Transient Network will release CryptoPool. The new service will launch on Ethereum and HECO Chain and lets users create custom pools for crypto price predictions. The pool’s creator can determine the expiry time and entry fees for a pool. Entrants can make price predictions in pools addressing their needs, including better potential rewards and more affordable fees.
The prices of crypto assets will always remain a hot topic of debate. CryptoPool will help users add some excitement to these conversations regardless of bullish or bearish conditions. All users in the pool will share in the price pool if their predictions are correct. More importantly, this solution does not require any coding and provides more transparency compared to other prediction markets.
CryptoPool’s no-code self-executing smart contracts ensure a fair revenue distribution and broader accessibility. Users can set up peer-to-peer pools without coding skills, making the concept much more approachable. A decentralized approach to crypto price prediction market pools is necessary. Moreover, CryptoPool has a unique UX/UI that makes everything accessible and easy to navigate, allowing non-crypto users to navigate everything CryptoPool has to offer.
The initial version of CryptoPool will support the top tokens across Binance Smart Chain and Ethereum. Transient Network, the team developing this solution, will add support for more tokens in the future. The community members will vote on adding new tokens through a fair and transparent process.
Making the concept of crypto price prediction markets more accessible can entice a mainstream audience. Whereas other platforms lack a convenient user interface or may not be too transparent, CryptoPool takes an entirely different approach. Moreover, its no-code approach will ensure anyone can create a pool for price predictions, regardless of bullish or bearish market conditions.
CryptoPool is the second application released by the Transient Network team. More DApps will follow, aiming to showcase the potential of blockchain technology and cryptocurrency. Prediction markets tied to crypto prices can be of great value to many people, as everyone has an opinion on the current value of assets and where they may head next.